Looking at the numbers now. As a condition of the loan, a fair proportion of the tin production ast current levels was sold forward at contract amounts, about US $1700 from memory? Now that the Oz dollar is sitting around 61c US, at least 10% below when the contracts were taken out, we have a currency conversion windfall of around 10% just now, at a time when the tin price has had a bit of a dive well below US $1700. So that would now be worth say 1700(100/61) or between A$27 and 28,000, which will be a valuable boost at a time when uncontracted tin is sitting in the $1400-1500 US range.
These figures are a bit back of the envelope, but it looks to me like MLX is at least for now and a year or two, fairly crash proofed on this front. When I get some time I might go back through the announcements and try to be a bit more precise, but then currencies and metal prices are changing all the time. I was a bit cranky they had to sell forward, but it is now a blessing in tough times. .
MLX Price at posting:
5.8¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
.
(20min delay)